Fund for the Universalization of Telecommunication Services
In Portuguese Fund for the Universalization of Telecommunication Services is named Fundo de Universalização dos Serviços de Telecomunicações and often referred to by the abbreviation FUST.
Fust was created with the purpose of promoting financial resources for the creation, development and renovation of telecommunication services . The fund aims to provide access to these types of services to every person in Brazil.
The tax is charged at a 1% rate over the operational gross revenue derived from the provision of telecommunication services in public and private tax regimes. To calculate the tax, ICMS, PIS and COFINS must be excluded from the gross revenue.